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READING, PA-Five projects here have received kick-start fundingof almost $13.3 million from the state. In addition to creating atleast 2,800 new jobs, Gov. Ed Rendell says the funding will"trigger economic growth" and bring "one of our historic andtreasured cities back to prominence."
The largest award, $5 million from the Redevelopment AssistanceCapital Program, is for construction of a four-story, 200-roomhotel that will connect with Sovereign Center, the 7,083-seatmulti-purpose civic arena that opened here in 2001. The hotel isdesigned to contain a 12,000-sf ballroom, 7,000 sf of pre-functionspace and 9,000 sf of breakout rooms. The estimated totalconstruction cost is $47 million.
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